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Tuesday, March 2, 2021

Real Deals: Near Southside Mercantile development breaks ground

Fort Worth Business Press obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm.

Near Southside Mercantile development breaks ground

The Near Southside Mercantile project promises restaurants, retail and what planners call creative workspace when the 28,000-square-foot, mixed-use development opens along Eighth Avenue and Oleander Street in Fort Worth.

Handling construction is PRIM Construction LLC, with Huitt-Zollars Inc. as project architect for an undertaking spearheaded by Funky Town Development LLC. All three companies are Fort Worth firms. Project costs and a projected opening date have not been disclosed.

“We’re thrilled to be a part of the Near Southside’s continuing development,” said Trent Prim, chief operating officer of PRIM Construction, commenting in a news release.

More than 10,000 square feet of office space is available for lease, with retail and restaurant space available for lease through Transwestern. The two-building project’s street address is 1217 and 1225 Eighth Ave.

DOWNTOWN SHERATON GETS

$56M LOAN AFTER MAKEOVER

The Sheraton Fort Worth Downtown Hotel has gained $56 million in a refinancing loan arranged by CBRE Hotels after the property’s $8.5 million renovation.

Marc Sallette and Olga Lepow of CBRE Hotels in Houston secured the loan on behalf of the borrower, Presidio Cos. The three-year, fixed- and floating-rate loan includes $21 million in mezzanine capital. Macquarie Group was the senior lender and Torchlight Investors was the mezzanine lender.

The 429-room hotel, located at 1701 Commerce St. near the Fort Worth Convention Center, has a resigned lobby, meeting rooms and ballroom, among other features. The eight-year makeover concluded in late February.

FW, SOUTHLAKE RETAIL CENTERS

GAIN FINANCING, TO BE SOLD

La Marina Plaza in Fort Worth and Southlake Plaza in Southlake have gained $4.1 million and $1.1 million in financing, respectively, after Cohen Financial arranged the loans. La Marina Plaza encompasses 30,000 square feet and is anchored by Texas Health Resources. Southlake Plaza totals 9,800 square feet. Kevin Sellers of Cohen Financial’s Phoenix office secured the two fixed-rate, three-year loans through Commerce National Bank on behalf of the borrower, a local commercial real estate investor. The borrower plans to market and sell both assets within two years.

FAIRFIELD INN BY MARRIOTT

CONFIRMED FOR DECATUR

Gatehouse Capital of Dallas has completed agreements with the city of Decatur to develop a four-story, 107-room Fairfield Inn & Suites by Marriott on U.S. Highway 380. The $13.8 million project in Wise County broke ground in October and is expected to be completed in late 2017.

The development could attract multi-day events and bring growth to the city, said Marty Collins, CEO of Gatehouse Capital.

In addition to Gatehouse Capital, the public-private partnership that collaborated on the hotel development included Texas Western Hospitality as the hotel operator, BOKA Powell Architects, UEB as the builder and Fairfield Suites by Marriott Inc.

Set to occupy 2.5 acres adjacent to Decatur’s Civic Center, the hotel will feature an outdoor pool, fitness center and business center.

EMBREY INTERESTS ACQUIRES

NORTH DALLAS OFFICE BUILDING

Embrey Interests has acquired 4228 North Central, a 52,717-square-foot office building at the North Central Expressway address of its name in Dallas. Beth Lambert and Diego Arroyave of Cushman & Wakefield negotiated the acquisition. The building is 90 percent leased.

Embrey, represented by Bryan Marquis, acquired the building as part of a 1031 exchange after recently selling Park Creek Place in Turtle Creek. Clint Madison with Cushman & Wakefield has been hired to lease the building.

SALES

415 Hemphill LLC has sold 88,426 square feet of land at 401 Hemphill St. in Fort Worth to CRG Acquisition LLC. Jim Sager of Transwestern represented the buyer.

Chesapeake Land Development LLC has sold a 12,800-square-foot industrial building at 3007 Pleasant Valley Lane in Arlington to JY Parker Building LLC. Todd Hawpe of Transwestern represented the buyer.

LEASES

Rod Patrick Bootmakers Inc. has leased 3,000 square feet of retail space in the former Fort Worth Camera building at 2900 W. 6th St. in Fort Worth from Fort Worth Camera LLC. Bill Behr of Transwestern represented the landlord. Steve Berry and Peggy Douglas of Williams Trew represented the tenant.

TB&S Manufacturing has leased 12,200 square feet of industrial space at 4901-4905 Blue Mound Road in Fort Worth from Industrial Real Estate Corp. Todd Hawpe and Sarah LanCarte of Transwestern represented the landlord.

Hi-Standard Equipment & Supply has leased 6,353 square feet of industrial space at 501 E. Broadway Ave. in Fort Worth from R&S Miller Family LP. Sarah LanCarte of Transwestern represented the landlord.

Cabbage Rose has leased 3,560 square feet at 3905 W. Vickery Blvd. in Fort Worth from Brett Witherspoon. Grant Huff, Jack Huff and Kyle Poulson of Transwestern represented the tenant.

The Morris Foundation has subleased 2,309 square feet in One Museum Place, 3100 W. Seventh St. in Fort Worth from the McDonald Law Firm. Grant Huff, Jack Huff and Kyle Poulson of Transwestern represented the subtenant.

Smith & Nephew has leased 58,713 square feet at Clearfork River Campus, 5600 Clearfork Main St. in Fort Worth. Cannon Camp of JLL-Fort Worth represented the landlord.

Safelite Auto Glass has leased 41,860 square feet at Parc North, Building 3, 2751 Northern Cross Blvd. in Fort Worth. Seth Koschak, Blake Kendrick and Forrest Cook of Stream Realty Partners LP-Fort Worth represented the landlord.

Goodman Distribution has leased 22,878 square feet at Parc North, Building 2, 2601 Northern Cross Blvd. in Fort Worth. Seth Koschak, Blake Kendrick and Forrest Cook of Stream Realty Partners LP-Fort Worth represented the landlord.

Lonestar Coatings has leased 12,107 square feet at 5001 Blue Mound Road in Fort Worth. John Green of Elk Castle Realty Group represented the tenant. Todd Hawpe and Sarah LanCarte of Transwestern-Fort Worth represented the landlord.

Nelson Bumgardner has leased 9,000 square feet at 5001 Blue Mound Road in Fort Worth. Alex Bryant and Leland Prowse of Transwestern-Fort Worth represented the tenant. Frank Taylor of JLL-Fort Worth represented the landlord.

Zenna has leased 6,024 square feet at 3001 Bledsoe St. in Fort Worth. Jeremy Cummings of Structure Commercial represented the landlord and tenant.

Slim 4 Life has leased 1,870 square feet at Alta Mere Crossing II, 750 Alta Mere Drive in Fort Worth. David Levinson of The Retail Connection represented the tenant. Patricia Lopez and Chris Flesner of Retail Solutions-Dallas represented the landlord.

Wilson Custom Pools has leased 3,600 square feet at Blue Mound Retail Center, 1200 S. Blue Mound Road in Saginaw. Todd Hawpe of Transwestern-Fort Worth represented the landlord.

North Texas Basements Inc. has leased 6,000 square feet in Blue Mound Business Center, 1128 Blue Mound Road West, No. 200, in Haslet. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Christopher Head has leased 2,000 square feet for a plumbing company in Blue Mound Business Centre, 1150 Blue Mound Road W., No. 303, in Haslet. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Codi and Amanda Morris have leased 2,500 square feet for cross-fit training space in Blue Mound Business Centre, 834 Blue Mound Road West, No. 400, in Haslet. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

David Merrell has leased 8,000 square feet for vehicle storage in Blue Mound Business Centre, 1128 Blue Mound Road West, Nos. 204 and 306, in Haslet. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Chaince Investment Group LLC has leased 1,500 square feet for automotive restoration in Blue Mound Business Centre, 850 Blue Mound Road West, No. 209, in Haslet. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Curtis James has leased 1,000 square feet for automobile parts, storage and sales in Blue Mound Business Centre, 850 Blue Mound Road West, No. 704, in Haslet. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Tyson Building Corp. has leased 1,800 square feet of office and warehouse space at 1150 Blue Mound Road, No. 815, in Haslet. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Hempel USA Inc., a global industrial coatings manufacturer and distributor, has leased 205,522 square feet in Building B of Northport 35 Business Center in Northlake. The center, a speculative three-building development totaling 945,035 square feet on 54 acres, serves tenants ranging from 16,000 square feet to 650,000 square feet. Stream Realty Partners secured the lease on behalf of Hempel, whose lease raises the project’s total occupancy to 55 percent.

Sebastian Labonne has leased 3,000 square feet for automotive sales and storage at 1115 Sturgeon Court in Arlington. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Ennova Learning Solutions LLC has renewed its lease for 10,838 square feet of office space in Copeland Tower, 1250 E. Copeland Road in Arlington. Erik Blais, Richmond Collinsworth, Jared Laake and Ed Pachecano of Bradford Commercial Real Estate Services represented the landlord, WF Tower-Dallas LLC. Garrett Gibbons of Jackson & Cooksey represented the tenant.

Kerr Industries has leased 50,000 square feet at 1101 N. Great Southwest Parkway in Arlington. Michael Spain and Jim Ferris of Bradford Commercial Real Estate Services represented the landlord.

C & N Auto Sales has leased 7,600 square feet at 2821 W. Division St. in Arlington. Kip Niles of KNK represented the landlord.

QTRAN Corp. has leased 10,868 square feet of industrial space at 2220 Delante St. in Haltom City from CJM2 Properties. Sarah LanCarte of Transwestern represented the tenant.

Restaurante El Tejas Bar & Grill has leased 6,984 square feet at 3408 Denton Highway in Haltom City. Monika Guzman of Structure Commercial represented the landlord and tenant.

Hotline Delivery Systems Inc. has leased 110,240 square feet at International Airport Center, Building 200, 615 Westport Parkway in Grapevine. Dave Anderson and Steve Koldyke of CBRE- Dallas represented the landlord.

Metro PCS has leased 1,500 square feet at Harwood Hills Village, 3100-3354 Harwood Road in Bedford. Randy Scott of Quine & Associates Inc.-Dallas-Fort Worth represented the landlord.

Frankenstein Motors LLC has leased 2,250 square feet for office and auto repair space at 5524 Midway Road in Haltom City. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Sorvay Xayprasith has leased 4,500 square feet for automotive repair at 4425 Midway Road, No. 9 in Haltom City. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Texas Rug Gallery has leased 6,000 square feet at Cornerstone Plaza, 2717-2737 E. Southlake Blvd. in Southlake. Britton Lankford and Mason Bakken of Bright Realty Brokerage LLC represented the landlord.

Acme Widget has leased 3,228 square feet at 820 Tower I, 305 Northeast Loop 820 in Hurst. Russell Podraza, Travis Moore and Ben Appleby of Paladin Partners represented the landlord.

Aidfreight Corp. has leased 16,000 square feet at 910-916 Avenue M in Grand Prairie. Michael Stanzel and Patrick Embry of NAI Robert Lynn represented the landlord.

Waterview-Westward LLC and Renal Treatment Centers-SE have leased 8,554 square feet of office space from Interra-Waterview LLC at 270 E. Highway 67 in Duncanville. John Fancher and Shannon Johnston of Cushman & Wakefield represented the landlord.

Premiere Martial Arts has leased 1,500 square feet at Lake Ridge Village, 5145 Lake Ridge Parkway in Grand Prairie. Ann Cloud Ngo of Quine & Associates Inc.-Dallas/Fort Worth represented the landlord.

Omnilife USA Inc. has leased 38,400 square feet at Prologis Great Southwest 7, 1205 Post & Paddock St. in Grand Prairie. Canon Shoults and Matt McWilliams of Holt Lunsford Commercial represented the tenant. Tom Walrich and Reed Parker of Lee & Associates-Dallas represented the landlord.

BDM Group LLC has leased 14,974 square feet at 1017 Santerre St. in Grand Prairie. Corby Hodgkiss of Mercer Co. represented the tenant. Jordan Foster, Austin Goode and Jim Maibach of Peyco Southwest Realty Inc. represented the landlord.

Konecranes Inc. has leased 4,338 square feet at Trinity West Business Park, Building 1, 2550 114th St. in Grand Prairie. Michael Spain and Jim Ferris of Bradford Commercial Real Estate Services-GSW Office represented the landlord.

Brooks Equipment has leased 39,000 square feet at 920 Avenue R in Grand Prairie. Brian Gilchrist and Tim Vogds of CBRE-Arlington represented the tenant. Canon Shoults of Holt Lunsford-Dallas represented the landlord.

Walter Surface Technologies Inc. has leased 22,686 square feet at 710 Gateway Blvd. in Coppell. Brian Gilchrist of CBRE-Dallas represented the landlord, Prologis.

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